Job retention scheme closing to new entrants
HMRC is reminding businesses that Coronavirus Job Retention Scheme (CJRS) will close to new entrants on 30 June. In addition, From 1 July, employees will no longer have to be furloughed for a minimum period of three weeks. From this date the CJRS will have more flexibility to allow claims on a pro rata basis. […]
Business warned about rise in impersonation fraud
Businesses have been told to stay vigilant against the rise in impersonation fraud during the coronavirus pandemic, by trade credit insurer Atradius. The insurer says the increase in impersonation fraud is result of opportunistic fraudsters seeking to take advantage of disruptions to normal business patterns during lockdown. Impersonation fraud occurs when a fraudulent party presents […]
Furlough scheme now covering 9.3 million workers
The number of workers now furloughed under the Coronavirus Job Retention Scheme (CJRS) has risen to 9.3 million, according to the latest figures from the Treasury. A further 100,000 employees were furloughed in the week up to 28 June, with 1.1 million employers now using the CJRS. The government has now paid out more than […]
FSB finds late payment crisis has worsened during coronavirus lockdown
The Federation of Small Businesses (FSB) has found that the UK’s late payment crisis has worsened during the coronavirus (COVID-19) lockdown. 62% of small businesses have been subject to late or frozen payments during the COVID-19 pandemic, according to research carried out by the FSB. Just 10% of small firms have agreed changes to payment […]
LITRG urges self-employed to check eligibility for SEISS
The Low Incomes Tax Reform Group (LITRG) has urged self-employed individuals to check their eligibility for the first round of the government’s coronavirus (COVID-19) Self-employment Income Support Scheme (SEISS) grant. The claim window for the first SEISS grant will close on 13 July. The LITRG stated that HMRC used IT systems to identify potential SEISS […]
Private sector off-payroll reforms given go ahead for April 2021
The introduction of off-payroll rules to the private sector will go ahead as planned next April after an attempt to delay them again failed in the House of Commons. The reforms of the off-payroll rules to the private sector, which are known as IR35 and have applied to the public sector since 2017, were reviewed […]
VAT cut on PPE extended
The Treasury has extended the temporary scrapping of VAT on personal protective equipment (PPE) until the end of October. The decision comes after a temporary zero-rate of VAT was applied to PPE sales for an initial three months from 1 May to 31 July. The government previously removed import duties from PPE and medical supplies […]
Chancellor to deliver Summer Economic Update
Chancellor Rishi Sunak will deliver the Summer Economic Update today, in which he will announce measures to help boost the UK economy following the coronavirus (COVID-19) lockdown. The Chancellor is expected to cut taxes in order to help the UK economy recover following the COVID-19 lockdown. Experts predict that the Chancellor will reduce VAT for […]
Chancellor announces Job Retention Bonus in Summer Economic Update
On 8 July Chancellor Rishi Sunak delivered a Summer Economic Update, which outlined measures designed to boost the UK economy following the coronavirus (COVID-19) lockdown. A new Job Retention Bonus was announced, which will provide employers with a one-off £1,000 bonus for each furloughed employee who is still employed as of 31 January 2021. The […]
Business groups react to Summer Economic Update
Business groups, including the Confederation of British Industry (CBI), the Federation of Small Businesses (FSB) and the British Chambers of Commerce (BCC) have reacted to Chancellor Rishi Sunak’s Summer Economic Update. In the Update, the Chancellor announced a range of measures designed to protect and create jobs and boost the UK economy following the coronavirus […]